This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: E. To increase Fees Earned - Credit F. To decrease Unearned Revenue - Debit G. To decrease Prepaid Insurance - Credit H. To increase Notes Payable - credit I. To decrease Accounts Receivable - Credit J. To increase Owner Capital - Credit QS 2-5: Identify whether the normal balances (in parenthesis) assigned to the following accounts are correct or incorrect: A. Office Supplies (Debit) - Correct B. Owner Withdrawals (Credit) - Incorrect C. Fees Earned (Debit) - incorrect D. Wages Expense (Credit) - Incorrect E. Cash (Debit) - Correct F. Prepaid Insurance (Credit) - Incorrect G. Wages Payable (Credit) – Correct H. Building (Debit) - Correct...
View Full Document
This note was uploaded on 02/21/2012 for the course ACC 225 acc 225 taught by Professor Unknown during the Spring '10 term at University of Phoenix.
- Spring '10